2013-01-04
2013-01-04
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on things like raising the country's borrowing limit, the debt ceiling, and dealing with spending cuts that could include negotiations over programs like medicare. lester? >> all right, kelly, thanks. >>> one new member of congress, the junior senator from the state of maine, is already making a name for himself. tom brokaw is here tonight with more on a man who says he wants to do the people's business in a better way than we've seen lately. hi, tom. >> lester, we don't often think of maine and royalty in the same sentence. but tonight i am reporting on the king of maine. that would be angus king, near republican or democrat, officially independent. a former two-term governor, he promised a new approach. and it paid off. >> i do. >> my favorite line from the campaign is a guy up north who said "all my life i've wanted a chance to vote for none of the above and you're it." >> it's been difficult to envision this day when i would be saying farewell -- >> reporter: king is replacing olympia snow, a respected republican senator who quit in frustration over washington's deadlocked ways. >>

another thorny issue this year. president barack obama wants to raise the debt ceiling, that's the limit of how much the federal government can borrow. members of congress need to reach a deal by the end of next month. >>> students who survived a mass shooting at a school in connecticut have endured a rough few weeks. they went back to class for the first time since the attack. about 400 students arrived at an unused junior high school. they are using the building at a neighboring town as their new campus. their old school remains closed. a gunman entered sandy hook elementary last month killing 20 of their school mates and six adults. the attack prompted president barack obama to push for tighter gun control. he suggests he wants to ban assault rifles and strengthen background checks. a recent poll suggests many americans still oppose a ban on the sale of assault rifles. the national rifle association carried weight across capitol hill and many republicans too are against further restrictions. >>> al jazeera has set its sights on one of the world's biggest tv markets, the united states.

. >> i am more worried about this fight. we were not able to get an increase in the debt ceiling. republicans have indicated this is something they are going to use as a bargaining tool. we're going to run out of money to run our country between the end of february and early march. i want to be clear that this probably doesn't mean defaulting on the debt of the united states which is as a disaster scenario. it represents about 6% of all the money we are talking about, but paychecks or stop giving tax refunds, but this is really serious business and could be quite contentious, even more so than the ceiling talks. >> this seems absolutely crazy. >> i cover markets and high not only have outside of washington, you can see the volatility of the markets, any time there is a small io, markets go up. businesses can't believe politicians in this country are going the let us get to this stage. dodge dealer expected the obama administration to try any other different economic policies? >> what you'll see in the next couple of years is the president being forced to go around congress as muc

more worried about this fight. we were not able to get an increase in the debt ceiling. republicans have indicated this is something they are going to use as a bargaining tool. we're going to run out of money to run our country between the end of february and early march. i want to be clear that this probably doesn't mean defaulting on the debt of the united states which is as a disaster scenario. it represents about 6% of all the money we are talking about, but paychecks or stop giving tax refunds, but this is really serious business and could be quite contentious, even more so than the ceiling talks. >> this seems absolutely crazy. >> i cover markets and high not only have outside of washington, you can see the volatility of the markets, any time there is a small io, markets go up. businesses can't believe politicians in this country are going the let us get to this stage. dodge dealer expected the obama administration to try any other different economic policies? >> what you'll see in the next couple of years is the president being forced to go around congress as much as he can.

? >> jumping off the fiscal cliff is nothing compared to blowing through the debt ceiling. here is why. the fiscal cliff was something created out of congress. it was sort of a manufactured crisis. now, the debt ceiling is for real. we come up against a borrowing limit and the government has to stop paying bills and it is a blunt instrument. i don't think either side wants to blow through the debt ceiling. i think we have to take a little bit of this blusterer with a grain of salt. what we want to take away from this whole period of time. when the government cuts spending it has a negative impact on growth. in the short run it hurts growth. if you look over in europe and austerity measures and governments pull back not so good for economic growth. when we say we want to fix the debt and deficit we have to be careful how soon and how quickly it occurs. >> kind of like after the holidays when you are feeling a little heavy you have to keep eating but you have to be a little more careful. >>> so jill gave us that news. i have other news for you, too. republicans attacking their own after

an increase in the debt ceiling. republicans have indicated this is something they are going to use as a bargaining tool. we're going to run out of money to run our country between the end of february and early march. i want to be clear that this probably doesn't mean defaulting on the debt of the united states which is as a disaster scenario. it represents about 6% of all the money we are talking about but paychecks or stop giving tax refunds, but this is really serious business and could be quite contentious, even more so than the ceiling talks. >> this seems absolutely crazy. >> i cover markets and high not only have outside of washington, you can see the volatility of the markets, any time there is a small io, markets go up. businesses can't believe politicians in this country are going the let us get to this stage. dodge dealer expected the obama administration to try any other different economic policies? >> what you'll see in the next couple of years is the president being forced to go around congress as much as he can. >> he took portions of that and tried to get it through

a blank check is while saying the president has unilateral power over the debt ceiling? >> the president really asked for a blank check here. and when you're talking about $1.65 trillion annual deficits, we're not talking about small movement. it's very important. in fact, it's probably the most important threat to this nation's economy today-s our debt ceiling and what we do with it. >> republicans will stop at nothing to spread this lie like wildfire. and as of now the president is standing strong. dnc chairwoman debbie wasser sman schultz, the congresswoman from florida, says the debt ceiling will not be on the table. >> debt ceiling is a separate issue. the bottom line is congress incurs bills, they have to be paid, and the debt ceiling is not going to be a component of these negotiations. >> so now president and the democrats need to make sure that they hold the line. liberals want him to do just that. president obama already has a mechanism in place to engage americans. he can go directly to the american people. the president already plans to use the bully pulpit of his state of th

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